Posted by Tina
“The price of oil is poised for another run at $100 a barrel after a global economic rebound sent it surging 34 percent since May. That could push gasoline prices to $4 a gallon by summer in some parts of the country, experts say. Flying, shipping a package and ordering a pizza all likely would get more expensive in the new year if that happens and companies pass along higher energy costs. Some economists say rising energy prices will slow economic growth.” – AP
This won’t help the economy and it didn’t have to happen.
There are several ways to defeat high pump prices. 1. Buy a car that gets substantially better mileage. 2. Invest in oil companies, BP, OIL, PVX, GMXR, to name but a few. The money you make off them will offset your gasoline costs. Speaking of GMXR, it leapt today..big time. 3. Drive less. We probably drive too much anyway and for no good reason, use a bike or walk whenever possible. For some of us this is totally impractical, but I’ll bet many of us could do that and be better off for it. $4 a gallon at the pump is being predicted by May. That may be a bit high in my view, however I think its is already too high to do anything good for our economy. We need fuel prices around $2 a gallon, which seems about right considering the cost of production….oh, where oh where is price competition when we need it? Oh, that’s right, democrats forced refineries out of the US and shut down all that they could that remained, then they stopped gulf drilling and prohibitted oil drilling in general just about anywhere. Thanks dems you did a real great job of killing competition and keeping prices down.
Well now.
This is clearly the result of the new Republican majority in Congress!
Quentin has left the planet.
Okay…least we’ve moved on from “W”s fault.
The last time the economy was stimulated–by giving everybody 300 bucks–the price of oil rose to absorb all of that cash.
Now, with the “Quantitative Easing” we are seeing the same thing.
“If you print it, they will suck it up.”
Or said another way, give gov a buck and they’ll spend two.